Syu Properties, Top Rock Holdings, And RJ Capital Acquire Multifamily Property In Forest Hills With $29.4M Bridge Financing

Located in Forest Hills, the multifamily property at 70-35 113th Street recently underwent a transaction. Spanning approximately 360,000 square feet, this property was the subject of a closed deal on June 24, 2021. The property was purchased by Josif Elishayev (SYU Properties), Uri Mermelstein, Joseph Yushuvayev (Top Rock Holdings), and RJ Capital. The transaction involved bridge financing from Madison Realty Capital, with a loan amount of $29,400,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $29,400,000
• Address: 70-35 113th Street
• Market: Forest Hills
• Asset Type: Multifamily
• Square Footage: 360,000
• Lender: Madison Realty Capital - Josh Zegen
• Landlord: Josif Elishayev (SYU Properties), Uri Mermelstein & Joseph Yushuvayev (Top Rock Holdings), RJ Capital
• Loan Type: Bridge Financing

The key individuals involved in this deal include Uri Mermelstein, Josh Zegen (representing Madison Realty Capital), Joseph Yushuvayev, and Josif Elishayev. These individuals played crucial roles in facilitating the transaction and ensuring its successful completion.